Somalia, Italy Agree to Boost Investment and Industrial Growth

GOOBJOOG NEWS | MOGADISHU: Somalia and Italy have agreed to step up cooperation aimed at attracting investment, expanding industrial capacity and creating jobs, following talks between Somalia’s Minister of Commerce and Industry, Jamaal Mohamed Hassan, and Italian Ambassador Pier Mario Daccò.

The meeting resulted in a shared commitment to promote foreign direct investment and deepen engagement between Somali and Italian businesses, with a focus on strengthening domestic production and supporting Somalia’s economic recovery.

Both sides agreed to work toward opening new trade opportunities and easing barriers to investment, moves expected to improve the business environment and draw Italian capital into key sectors of Somalia’s economy.

The discussions also highlighted the role of industrial growth in generating sustainable employment, particularly for young people, a priority for the Somali government.

Officials said continued dialogue would translate the commitments into practical measures to support private-sector development and long-term economic growth.